Philippines’ China Banking plans PHP 50 billion negotiable CDs, bonds

By Marisa Wong

Morgantown, W.Va., March 8 – China Banking Corp. said its board of directors has approved a funding program of up to PHP 50 billion through a combination of long-term negotiable certificates of time deposit, retail bonds and commercial paper.

The bank said proceeds will be used to fund its strategic initiatives and expansion, specifically to grow its lending business.

The bank is based in Makati City, Philippines.

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